SAI.TECH Announces Results of Annual General Meeting
August 15 2024 - 4:05PM
SAI.TECH Global Corporation (“
SAI.TECH” or
“
SAI” or the “
Company”)
(NASDAQ: SAI, SAITW) today announced that all of the
shareholder proposals submitted for shareholder approval (the
“Proposals”) as set forth in the notice of annual general meeting
dated July 23, 2024 (the “Notice of AGM”) have been duly adopted at
its annual general meeting of shareholders held virtually at
www.virtualshareholdermeeting.com/SAI2024 on August 13, 2024, as
adjourned from August 6, 2024 (the “AGM”).
After the adoption of the Proposals, all
corporate authorizations and actions contemplated thereunder were
approved, including, among other things, that (i) Mr. Heung Ming
Henry Wong was elected as a Class II Director, Chairman of the
Audit Committee, member of the Compensation Committee and the
Nominating & Corporate Governance Committee of the Company,
(ii) Mr. Haotian Li was elected as a Class II Director, Chairman of
the Compensation Committee, member of the Audit Committee and the
Nominating & Corporate Governance Committee of the Company,
(iii) the elections of Mr. Tianshi Yang as a Class III Director,
Chairman of the Nominating & Corporate Governance Committee,
member of the Audit Committee and the Compensation Committee of the
Company were ratified, (iv) the Company’s Third Amended and
Restated Memorandum and Articles of Association was approved, (v)
the appointment of Audit Alliance LLP as the independent registered
public accounting firm of the Company for the fiscal year ended
December 31, 2024 was approved, and (vi) the change of name of the
Company to SAIHEAT Limited was approved.
About SAI.TECH
SAI.TECH is a Nasdaq-listed (SAI) sustainable
distributed bitcoin mining operator headquartered in Singapore.
SAI’s mission is to become a sustainable distributed digital asset
mining operator and heating supplier globally, while simultaneously
promote the clean transition of the bitcoin mining, power and
heating industries.
In May 2022, SAI became a publicly traded
company under the new ticker symbol “SAI” on the Nasdaq Stock
Market (NASDAQ) through a merger with TradeUP Global Corporation.
For more information on SAI.TECH, please
visit https://sai.tech/.
Safe Harbor Statement
This press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The words “believe”, “expect”, “anticipate”,
“project”, “targets”, “optimistic”, “confident that”, “continue
to”, “predict”, “intend”, “aim”, “will” or similar expressions are
intended to identify forward-looking statements. All statements
other than statements of historical fact are statements that may be
deemed forward-looking statements. These forward-looking statements
include, but not limited to, statements concerning SAI.TECH and the
Company’s operations, financial performance, and condition are
based on current expectations, beliefs and assumptions which are
subject to change at any time. SAI.TECH cautions that these
statements by their nature involve risks and uncertainties, and
actual results may differ materially depending on a variety of
important factors such as government and stock exchange
regulations, competition, political, economic, and social
conditions around the world including those discussed in SAI.TECH’s
Form 20-F under the headings “Risk Factors”, “Results of
Operations” and “Business Overview” and other reports filed with
the Securities and Exchange Commission from time to time. All
forward-looking statements are applicable only as of the date it is
made and SAI.TECH specifically disclaims any obligation to maintain
or update the forward-looking information, whether of the nature
contained in this release or otherwise, in the future.
Media Contact
pr@sai.tech
Investor Relations Contact
ir@sai.tech
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